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Markets Hold onto Gains by Noon


Stocks gained on Wednesday, keeping the major averages on track for a sizeable jump in November.

The Dow Jones Industrials was still positive 62.57 points to observe noon EST Wednesday at 35,479.55.

The S&P 500 gathered 9.15 points to 4,564.04.

The NASDAQ picked up 20.45 points to 14,302.21.

General Motors shares popped about 9.3% after the company announced a $10-billion buyback and raised its dividend, and NetApp soared 15% on an earnings beat. Phillips 66’s stock jumped 3.8% after Elliott Investment Management took a $1-billion stake in the energy company.

Data released Wednesday showed gross domestic product data for the third quarter grew at a stronger-than-expected pace, accelerating at a 5.2% annualized pace. The boost came primarily from revisions to government spending and investments in non-residential structures.

Prices for the 10-year Treasury jumped, lowering yields to 4.29% from Tuesday’s 4.33%. Treasury prices and yields move in opposite directions.

Oil prices regained $1.12 to $75.53 U.S. a barrel.

Gold prices brightened $3.60 to $2,043.60.



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